How many times have you had the thought, are we too expensive? Or something similar.
If you’re finding yourself wondering if bringing your prices down is a lever you should pull to attract more business, chances are you have a more significant problem than price alone.
Chances are your tourism business isn’t differentiated enough.
You are not unique enough.
You don’t appeal so strongly to a specific demographic that they are willing to pay a premium above a commodity price to acquire what you offer.
When you find yourself questioning if your prices are low enough to attract new customers, there’s a much better question to ask.
When answered AND implemented through the business, you are more likely to be asking, ‘how much can we put our prices up?’.
Don’t race to the bottom. Race to reposition firmly to a smaller group of prospective customers.
Here’s a simple (but headache-producing) test. Complete the following sentence: “Our brand is the only ⸏ that ⸏.”1
1. BRAND FLIP, THE: WHY CUSTOMERS NOW RUN COMPANIES AND HOW TO PROFIT FROM IT (VOICES THAT MATTER) by Neumeier Marty.